As used in the Affordable Housing Act:

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Terms Used In New Mexico Statutes 6-27-3

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

A. “affordable housing” means residential housing primarily for persons or households of low or moderate income;

B. “authority” means the New Mexico mortgage finance authority;

C. “building” means a structure capable of being renovated or converted into affordable housing or a structure that is to be demolished and is located on land that is donated and upon which affordable housing will be constructed;

D. “governmental entity” means the state, including any agency or instrumentality of the state, a county, a municipality or the authority;

E. “household” means one or more persons occupying a housing unit;

F. “housing assistance grant” means the donation, provision or payment by a governmental entity of:

(1)     land upon which affordable housing will be constructed;

(2)     an existing building that will be renovated, converted or demolished and reconstructed as affordable housing;

(3)     the costs of acquisition, development, construction, financing and operating or owning affordable housing; or

(4)     the costs of financing or infrastructure necessary to support affordable housing;

G. “infrastructure” includes infrastructure improvements and infrastructure purposes; H. “infrastructure improvement” includes, but is not limited to:

(1)     sanitary sewage systems, including collection, transport, storage, treatment, dispersal, effluent use and discharge;

(2)     drainage and flood control systems, including collection, transport, diversion, storage, detention, retention, dispersal, use and discharge;

(3)     water systems for domestic purposes, including production, collection, storage, treatment, transport, delivery, connection and dispersal;

(4)     areas for motor vehicle use for road access, ingress, egress and parking; (5)     trails and areas for pedestrian, equestrian, bicycle or other nonmotor

vehicle use for access, ingress, egress and parking;

(6)     parks, recreational facilities and open space areas to be used by residents for entertainment, assembly and recreation;

(7)     landscaping, including earthworks, structures, plants, trees and related water delivery systems;

(8)     electrical transmission and distribution facilities; (9)     natural gas distribution facilities;

(10)    lighting systems;

(11)    cable or other telecommunications lines and related equipment;

(12)    traffic control systems and devices, including signals, controls, markings and signs;

(13)    inspection, construction management and related costs in connection with the furnishing of the items listed in this subsection; and

(14)    heating, air conditioning and weatherization facilities, systems or services, and energy efficiency improvements that are affixed to real property;

I. “infrastructure purpose” means:

(1)     planning, design, engineering, construction, acquisition or installation of infrastructure, including the costs of applications, impact fees and other fees, permits and approvals related to the construction, acquisition or installation of the infrastructure;

(2)     acquiring, converting, renovating or improving existing facilities for infrastructure, including facilities owned, leased or installed by the owner;

(3)     acquiring interests in real property or water rights for infrastructure, including interests of the owner; and

(4)     incurring expenses incident to and reasonably necessary to carry out the purposes specified in this subsection;

J. “municipality” means an incorporated city, town or village, whether incorporated under general act, special act or special charter, incorporated counties and H class counties;

K. “public post-secondary educational institution” means a state university or a public community college;

L. “qualifying grantee” means:

(1)     an individual who is qualified to receive assistance pursuant to the Affordable Housing Act and is approved by the governmental entity; and

(2)     a governmental housing agency, regional housing authority, tribal housing agency, corporation, limited liability company, partnership, joint venture, syndicate, association or nonprofit organization that:

(a) is organized under state, local or tribal laws and can provide proof of such organization;

(b) if a nonprofit organization, has no part of its net earnings inuring to the benefit of any member, founder, contributor or individual; and

(c) is approved by the governmental entity; and

M. “residential housing” means any building, structure or portion thereof that is primarily occupied, or designed or intended primarily for occupancy, as a residence by one or more households and any real property that is offered for sale or lease for the construction or location thereon of such a building, structure or portion thereof. “Residential housing” includes congregate housing, manufactured homes, housing intended to provide or providing transitional or temporary housing for homeless persons and common health care, kitchen, dining, recreational and other facilities primarily for use by residents of a residential housing project.